Real Time Information (RTI) is ‘on track and proceeding well’, according to HMRC, but the ICAEW Tax Faculty has warned that the proposed timetable is ‘unrealistic’. It is ‘alarming’, the Faculty said last week, that there are ‘so many [issues which] are unresolved’.
The general anti-avoidance rule proposed by Graham Aaronson’s study group and now being considered by the government is a realistic response to today’s politics and would create a level playing field in the UK, according to John Bartlett, Head of Tax at BP plc.
HMRC will issue 850,000 penalty notices during the next fortnight for late filing of tax returns. A record 90.4% of taxpayers filed on time this year.
‘Public borrowing is falling faster than expected and is on track to beat official forecasts for this financial year, official figures for the crucial month of January showed on Tuesday, giving George Osborne a fillip a month before the Budget.
Smith & Williamson announced the appointment of Andrew Jupp as a Tax Director focusing on corporate tax and business issues. He was Head of Tax at haysmacintyre and previously National Head of Tax at RSM Tenon. His earlier experience includes over 15 years with Big Four firms.
The rationale for meetings between HMRC and leading tax advisers in the Big Four accountancy firms has been set out in revised HMRC guidance on its approach to large businesses.
On 31 January HMRC launched its Contractual Disclosure Facility, the latest incarnation of HMRC’s civil investigation of fraud procedure. Phil Berwick reviews some of the practical issues arising from the new process.
HMRC has extended the Alternative Dispute Resolution (ADR) trial for SMEs after a ‘successful launch’ last month in North Wales and North West England. Applications from London, South Wales and South West England will now be accepted.
HMRC will begin writing to more than 50,000 electricians this month, warning them to pay any undisclosed taxes.